Sherman & Roylance Orchestrates $8.25M Sale of Assisted Living and Memory Care Community in Premier California Resort Town
The allure of ocean breezes and a resort-like setting proved irresistible for a San Diego-based husband and wife team as they snapped up a sought-after senior living community in a picturesque California coastal town. Sherman & Roylance is thrilled to announce the successful sale of this well-established assisted living and memory care facility, nestled just steps away from the famed Pebble Beach.
The multi-phased campus, boasting a rich history dating back to 1955 and thoughtfully expanded through 1999, offers 46 beautifully appointed units licensed for 55 beds. While currently enjoying a 60% occupancy, the facility's prime location and proforma potential attracted significant interest from potential buyers. Ultimately, it was the passionate vision and proven expertise of the San Diego duo, with the wife's nursing background adding invaluable insight, that secured the winning bid.
The seller, a new player in the senior housing sector, is refocusing their efforts on geographic areas closer to their core operations. Lead agents Shep Roylance, John Sherman, and Chris Minnery of Sherman & Roylance facilitated every facet of the transaction, ensuring a seamless transition for all stakeholders. From initial marketing and outreach to meticulous negotiations and financing guidance, their expertise proved instrumental in bringing this deal to fruition.
"We are proud to have connected such a dedicated buyer with this hidden gem," stated Chris Minnery, Senior Housing Specialist at Sherman & Roylance. "The buyer's passion for senior care and their track record of success makes them ideal stewards for this facility, and we are confident they will elevate the resident experience to new heights."
Considering your property's exit strategy? Sherman & Roylance offers complimentary business valuations to owners of senior living communities interested in exploring their options.